Baltimore technology company Salar Inc. was acquired by Atlanta-based Transcend Services Inc. in an $11 million cash-for-stock transaction that closed Friday, Transcend announced Tuesday.
Salar generated $4 million in revenue last year and counts academic and community hospitals among its customers. The privately held company makes software that health care providers use for billing and to manage clinical information in a database.
Transcend, which provides transcription services and applications for health care organizations, said it expects the acquisition of Salar to give the company a stronger foothold in hospitals.
Salar, founded in 1999 and a graduate of Baltimore's Emerging Technologies Center incubator, will remain in Baltimore as a business unit of Transcend.
Lorraine.mirabella@baltsun.com